Business Bankruptcy
It is common knowledge that people in this country have a chance to get protection when they are unable to pay their debts. The same is true for businesses. Just as heavily indebted people are given some options through bankruptcy, so are business entities.
Bankruptcy for a corporation or business owner can be financially complicated. There are a few options available to you as a business owner or executive. Our attorneys at Sobti Law Group have the experience and knowledge to help you find the answers you need. Contact the office nearest you in San Bernardino, Palm Springs, Beaumont, Orange or Corona.
Options for Indebted Businesses
We are a debt-relief law firm, not a late-night television debt-consolidation company. We have experience helping our business clients find the perfect solution for their debt problems. The main option for indebted business entities is bankruptcy:
- Chapter 7 bankruptcy for businesses: Chapter 7 for business is much like Chapter 7 for individuals. It liquidates most of your debt and in most cases the debtor will lose indebted assets in the process. This is the option for businesses that do not intend to continue doing business and need help wrapping up.
- Chapter 11 bankruptcy for businesses: Chapter 11 is more like a Chapter 13 for individuals. It allows business entities to reorganize debt into a more manageable debt-repayment program, giving businesses a new lease on life.
There are some other important debt-relief solutions for businesses, as well. If there is an option for you to get your business back on its feet, our lawyers can help you find it. If not, we can help you with the winding up process and possibly a Chapter 7 bankruptcy for businesses.
Contact Us ∙ Corona Debt Relief Options
We offer a free initial consultation, so you can get the answers you need about business debt relief, free of charge and obligation, from one of our experienced attorneys. Either call 888-627-8013 or contact us online today.
